China approves Hyundai Heavy's merger with DSME!
China’s anti-trust authority has given the greenlight to the merger between two major South Korean shipbuilders Hyundai Heavy Industries Holdings (HHI) and Daewoo Shipbuilding and Marine Engineering (DSME).
29 December 2020 - 12:01
China’s State Administration for Market Regulation has reached a consensus that the potential merger will not hurt fair market competition and issued unconditional approval for the merger.
It is the third approval the yards have received after anti-trust agencies in Kazakhstan and Singapore gave the go ahead for the takeover.
HHI entered into a deal to purchase a 55.72% stake in DSME last year. The merger would create one of the world’s largest shipbuilders.
Currently the merger is still under review by the antitrust regulator of European Union.
Source: Splash247 (Click for further of the article)
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